Deals Monitor

MHB joint venture gets Petronas service contract

Source: The Edge Markets

KUALA LUMPUR: Malaysia Marine and Heavy Engineering Holdings Bhd?s (MHB) wholly-owned unit has bagged a service agreement contract from Petroliam Nasional Bhd (Petronas).

In a statement yesterday, MHB said Malaysia Marine and Heavy Engineering Sdn Bhd, in a joint venture agreement with Hiap Seng Engineering Ltd, was awarded a master service agreement that covers integrated plant turnaround works and daily maintenance work on mechanical static for Petronas? plants across the group.

The agreement is valid for five years, and Petronas has an option to extend it. No contract value was mentioned in the statement.

?This long-term project award is aligned with our strategy to venture into new businesses that provide recurring orders in ensuring MHB?s growth sustainability. We are committed to execute the work efficiently, without compromising on safety and quality,? said the groups managing director and chief executive officer Wan Mashitah Wan Abdullah Sani.

Source: The Edge Markets